Eyes broad range of applications for the firm’s
peptide technology

Bicyclic
peptides have the targeting power of monoclonal antibodies but behave more like
small molecules in their ability to penetrate tissues and be delivered at
specific doses, as well as their ease of synthesis.

They
are also less likely to cause immune reactions than antibody drugs and are
soluble in water – meaning they can be used in a broad range of formulations.

Added
to that, the peptides can be directed at a single target, coupled together to
combine two functions or act like antibody-drug conjugates (ADCs), with a
targeting element linked to a molecular cargo such as a cell-killing compound.

Cambridge-based
Bicycle's in-house programmes are targeted at cancer, but AZ's initial interest
is in the development of bicyclic peptides for respiratory, cardiovascular and
metabolic diseases, including inhaled drug candidates.

The
big pharma company is making an undisclosed upfront payment, a commitment to
future R&D funding as well as development, regulatory and commercial
milestone payments.

The $1bn figure will only be reached if all the planned
projects reach the market.
The
cash injection follows a $32m fundraising by Bicycle in 2014 to advance the
technology platform, which has grown out of research conducted by the MRC
Laboratory of Molecular Biology in Cambridge by its founders - Sir Gregory
Winter and Professor Christian Heinis.

The
deal comes at a time when AZ is making big changes to its business, selling
off mature products and R&D projects outside its core focus while
licensing bolt-on projects in its favoured therapeutic areas – although of late
more has been going out the door than in.

The
company is trying to boost its product pipeline following the loss of several
patent protections for blockbuster drugs and meet a revenue target of $45bn by
2023.

"Bicycle's
focus so far has been in oncology and bringing AZ's expertise in respiratory,
cardiovascular and metabolic disease to their platform substantially expands
its potential," said Kumar Srinivasan, vice president of scientific
partnering and alliances at the big pharma firm.

Bicycle's
lead in-house candidate is BT1718, which is a bicyclic peptide targeting
MTI-MMP, a regulator of cell migration in tissues - is due to start clinical
trials in the coming months.